NetApp Inc. (NTAP) Shares Sold by Strategy Asset Managers LLC

Strategy Asset Managers LLC decreased its stake in shares of NetApp Inc. (NASDAQ:NTAP) by 47.5% during the 4th quarter, Holdings Channel reports. The firm owned 17,340 shares of the data storage provider’s stock after selling 15,705 shares during the quarter. Strategy Asset Managers LLC’s holdings in NetApp were worth $1,035,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. FTB Advisors Inc. raised its holdings in shares of NetApp by 14.6% during the fourth quarter. FTB Advisors Inc. now owns 1,318 shares of the data storage provider’s stock valued at $78,000 after buying an additional 168 shares during the last quarter. LS Investment Advisors LLC raised its holdings in shares of NetApp by 2.3% during the fourth quarter. LS Investment Advisors LLC now owns 7,681 shares of the data storage provider’s stock valued at $458,000 after buying an additional 173 shares during the last quarter. Huntington National Bank raised its holdings in shares of NetApp by 13.4% during the fourth quarter. Huntington National Bank now owns 2,122 shares of the data storage provider’s stock valued at $127,000 after buying an additional 251 shares during the last quarter. Suntrust Banks Inc. increased its stake in shares of NetApp by 6.8% during the fourth quarter. Suntrust Banks Inc. now owns 5,582 shares of the data storage provider’s stock valued at $333,000 after acquiring an additional 354 shares during the period. Finally, CWM Advisors LLC increased its stake in shares of NetApp by 12.1% during the fourth quarter. CWM Advisors LLC now owns 3,664 shares of the data storage provider’s stock valued at $219,000 after acquiring an additional 396 shares during the period. 94.34% of the stock is currently owned by institutional investors and hedge funds.

Shares of NTAP stock traded up $0.22 on Wednesday, hitting $66.82. The company’s stock had a trading volume of 386,509 shares, compared to its average volume of 2,871,049. The company has a current ratio of 1.56, a quick ratio of 1.53 and a debt-to-equity ratio of 0.93. NetApp Inc. has a fifty-two week low of $54.50 and a fifty-two week high of $88.08. The firm has a market cap of $16.53 billion, a PE ratio of 22.35, a PEG ratio of 1.17 and a beta of 1.40.

NetApp (NASDAQ:NTAP) last released its quarterly earnings data on Wednesday, February 13th. The data storage provider reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.15 by $0.05. NetApp had a net margin of 16.85% and a return on equity of 60.32%. The business had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.60 billion. During the same quarter in the previous year, the business earned $0.99 EPS. NetApp’s quarterly revenue was up 1.6% compared to the same quarter last year. As a group, analysts forecast that NetApp Inc. will post 4.04 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 24th. Investors of record on Friday, April 5th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.39%. The ex-dividend date is Thursday, April 4th. NetApp’s payout ratio is presently 53.51%.

In related news, VP Joel D. Reich sold 20,000 shares of NetApp stock in a transaction on Tuesday, February 19th. The shares were sold at an average price of $64.04, for a total value of $1,280,800.00. Following the completion of the sale, the vice president now owns 744 shares of the company’s stock, valued at approximately $47,645.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Henri P. Richard sold 5,050 shares of NetApp stock in a transaction on Friday, February 1st. The shares were sold at an average price of $66.01, for a total transaction of $333,350.50. Following the completion of the sale, the executive vice president now directly owns 56,707 shares of the company’s stock, valued at approximately $3,743,229.07. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by insiders.

Several research firms have issued reports on NTAP. Zacks Investment Research upgraded shares of NetApp from a “hold” rating to a “buy” rating and set a $72.00 price target on the stock in a research report on Thursday, December 13th. BidaskClub lowered shares of NetApp from a “buy” rating to a “hold” rating in a research report on Tuesday, February 12th. JPMorgan Chase & Co. lowered shares of NetApp from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $80.00 to $75.00 in a research report on Thursday, February 14th. Finally, Cowen began coverage on shares of NetApp in a research report on Tuesday, December 11th. They issued an “underperform” rating and a $53.00 price target on the stock. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $77.16.

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About NetApp

NetApp, Inc provides software, systems, and services to manage and share data on-premises, and private and public clouds worldwide. It offers cloud data services, such as ONTAP cloud storage data management and NetApp cloud sync data synchronization services; NetApp SaaS backup for Microsoft Office 365; NetApp cloud backup solutions; OnCommand management software and management integration tools; and NetApp private storage for cloud.

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Institutional Ownership by Quarter for NetApp (NASDAQ:NTAP)

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